Strategy Acquires 21,021 BTC After Successful $2.52 Billion IPO
Strategy, a prominent bitcoin corporate treasury company, has recently made headlines with its latest acquisition of 21,021 BTC at an average price of $117,256. This bold move was made possible by the proceeds from Strategy’s highly successful $2.52 billion IPO of Series A Perpetual Stretch Preferred Stock (STRC). With this latest purchase, Strategy’s total bitcoin holdings now stand at an impressive 628,791 BTC, valued at approximately $80 billion.
The Largest US IPO of 2025
The IPO, priced at $90 per share for 28,011,111 shares, is not only the largest US IPO of 2025 but also one of the most significant bitcoin-related equity raises in recent memory. After deducting expenses, Strategy netted $2.474 billion, the majority of which was promptly utilized to acquire more bitcoin, in line with the company’s aggressive accumulation strategy that aims to benefit common shareholders without dilution.
Introduction of the STRC Stock
Trading under the ticker STRC on the Nasdaq Global Select Market from July 30 onwards, the STRC stock features a variable 9% annual dividend, paid monthly, and is designed to trade close to its $100 par value. This marks a milestone as the first US exchange-listed perpetual preferred security from a bitcoin treasury firm with a monthly dividend rate.
Key Features of the STRC Stock
This offering represents the largest exchange-listed preferred stock issuance since 2009 and introduces a short-duration, income-generating security that is expected to appeal to yield-focused investors. Furthermore, Strategy has retained redemption and repurchase rights, along with investor protections such as dividend accrual and tax-related redemption options.
Key Players in the IPO
Morgan Stanley, Barclays, Moelis & Company, and TD Securities served as joint book-running managers for the IPO. Additionally, The Benchmark Company, Clear Street, AmeriVet Securities, Bancroft Capital, Keefe, Bruyette & Woods, and Maxim Group LLC acted as co-managers in this landmark transaction.
Future Growth Prospects
Just a week prior to this significant acquisition, Strategy had disclosed a $740 million bitcoin purchase of 6,220 BTC, further solidifying its position as a major player in the cryptocurrency space. Analysts from TD Cowen have projected that Strategy could potentially acquire an additional 17,000 BTC over the next decade through its innovative 42/42 program, which aims to raise $84 billion for bitcoin purchases by 2027.
